RioCan Real Estate Investment Trust Announces Completion of an Additional $175 Million Offering of the Series Q Senior Unsecured Debentures

TORONTO, ONTARIO–(Marketwired – April 2, 2015) –

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RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today announced that it has successfully completed its issuance of $175 million principal amount of Series Q senior unsecured debentures (the “Additional Debentures”), which was a re-opening of this series of debentures, the original issuance of which was completed in June 2012, and the first re-opening of which was completed in July 2012.

The underwriting syndicate for the offering was co-led by RBC Capital Markets, TD Securities and BMO Capital Markets. The Additional Debentures carry a coupon rate of 3.85% and will mature on June 28, 2019. The Additional Debentures were issued at a price of $1,073.12 per $1,000 principal amount plus accrued interest, with an effective yield of 2.04% if held to maturity.

The offering was made under RioCan’s base shelf short form prospectus dated July 7, 2014. The terms of the offering are described in a prospectus supplement dated March 27, 2015 which was filed with Canadian securities regulators.

About RioCan

RioCan is Canada’s largest real estate investment trust with a total capitalization of approximately $15.1 billion as at December 31, 2014. It owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 340 retail properties containing more than 79 million square feet, including 48 grocery anchored and new format retail centres containing 13 million square feet in the United States as at December 31, 2014. RioCan’s portfolio also includes 15 properties under development in Canada. For further information, please refer to RioCan’s website at www.riocan.com.